Postage stamp price hike goes into effect - WCIV-TV | ABC News 4 - Charleston News, Sports, Weather

CHARLESTON, S.C. (WCIV)-- If you go to buy stamps today, you'll probably be paying more than you're used to.

Postage rates jumped for the first time in two-and-a-half years as the U.S. Postal Service hopes to generate more revenue.

First-class stamps are now a penny more, costing 45 cents each. USPS officials hope the price increase will generate an additional $888 million in annual revenue.

The rate increase does not affect the use of Forever stamps purchased before Sunday, Jan. 22nd.